Gold, Oil & Indices (Equity & Bond Indices)

test of 1500 in gold and 28 in silver?..

Anyone following silver? I also note from Ashraf's hot chart the high net long to short ratios. Just looking at the weekly chart, the weekly moving average (100) seems like a decent support which also happens to be not too far off below the 50% of the fibo from the peaks ('08 low to '11 high). Unless anyone looking at a 24 levels? I am looking for a decent long ...

I think some CB's also been gently selling gold. The long term trend support from Oct 08 kickin in here c.1555/60

a fundi explanation perhaps?..

"Overnight interbank reports are mentioning quite a few hedge fund closures this week (.. presuming due to under-performance) and this has led to some heavy liquidation of long Gold positions. Same old story, cut the good positions to pay for the bad. They expect the selling to dry up in the next few days and Asian Sovereign bids near $1500.."

Ashraf

Please don't misunderstand me. I am not saying that you are incorrectly calling your trades 'hit all targets' when they haven't.

It's just depending on how one sets up entry, you may be able to call a trade filled, but your clients may not, depending on their risk appetite.

The example I gave was a really good one where your entry range was 1.3450 - 1.3500 and the trade was 'filled' because price spiked 1.3451. The Stop Loss was 1.3530. I personally didn't want 80 pips to my stop so I set my entry price higher and missed the trade.

Because I am in Australia and a lot of the action happens during US session, I regularly have to set and forget trades rather than wait for a technical signal. With the choppiness, over the last few months, I have found it very hard to pick the right trades, so am trying to maximize Risk Reward ratio, by waiting until price nears the end of the range closest to the Stop Loss level before entering. I'm also learning how to judge trades by confidence level and only take the ones with a confluence of factors.

Now I know you are very likely say no to this, but have you considered adding a kind of confidence indicator to your trades, or is that 'a can of worms' that you don't want to go near?

Regards

Alan



I don't know what the answer is - At one point I set e